New York (HedgeCo.Net) – Hedge fund giant Man Group plc today announced the results for the financial year ending 31 December 2014. Funds under management (FUM) are reported up 35% to $72.9 billion (31 December 2013: $54.1 billion.)
“2014 marked a year of progress for the Group with strong performance at AHL, a full year of net inflows, the completion of the restructuring program ahead of schedule and several key acquisitions and hires that have materially enhanced our investment capabilities and our North American business.” Manny Roman, Chief Executive Officer of Man, said in a statement.
Other highlights reported today include:
- Gross sales up 36% to $21.9 billion (2013: $16.1 billion)
- Redemptions down 6% to $18.6 billion (2013: $19.7 billion)
- Net inflows of $3.3 billion (2013: net outflows $3.6 billion)
- Investment movement of $3.6 billion (2013: $4.3 billion)
- FX translation effects and other movements of -$4.3 billion (2013: -$3.6 billion)
- Acquisition of Numeric (a US based quant manager) and Pine Grove (a US based fund of fund credit manager) completed during the year, adding $16.2 billion to FUM
“Despite the strong performance across the AHL range in 2014 we do not expect to see a meaningful pick-up in demand for these products until later in the year, and this, coupled with a slowdown in sales across our discretionary strategies and the ongoing volatility of the markets in which we operate, means that we remain cautious in our near-term outlook.” Roman said.
“After the significant progress made against our strategic objectives in 2014, however, we are better positioned as a group to grow our business profitably over time. We have a more diversified offering to clients and a range of attractive options for growth. If we are able to deliver superior risk adjusted returns for our clients, as we were able to in particular in our quantitative business last year, we will be able to leverage our global distribution to grow our assets steadily.”
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